Cyber Security Institute

Saturday, June 20, 2009

1 In 5 Companies Cutting IT Security Spending, Our Survey Finds

Budget woes, increased regulation, and new challenges for sensitive data are on the menu for risk managers.  Cutting IT security spending, unthinkable a couple of years ago, is officially on the table.  Just a year ago, even with a recession taking hold, only 6% of companies planned to trim security.  This year, 19% are cutting, our Strategic Security Survey finds, while only 27% are increasing spending on IT security, down from 40% who were a year ago.  At the same time, CEOs desperate to make their quarterly numbers may enter new businesses or find ways to trim expenses with less concern for the impact on data security.  If you thought you had a handle on your organization’s appetite for risk, chances are the economy has changed the dinner portions.

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